We attended a site tour to GOR’s Gruyere JV visiting the plant infrastructure, open pit and received presentations from the Senior Site Management team. GOR’s production outlook for CY24 is highly dependent on a refreshed site management delivering on its material movement targets. We maintain our HOLD rating on GOR with our price target unchanged at $1.85. Not simply just a case of adding extra trucks, efficient organisation of the mining fleet and availability operators will be key issues to address for Gruyere to hit its revised CY25 production targets.
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